The price of agricultural land across the region will increase, mainly due to an expected recovery in milk prices and continuing strong demand from farmers and investors. That's according to Teagasc and the Society of Chartered Surveyors which expect purchase and rental land prices to rise by 6 and 4 per cent respectively. In Ulster, average rental prices are expected to rise by 6%. The average price for holdings of less than 50 acres is 11 thousand euro per acre in both Cavan and Monaghan. Meanwhile, prices for poor quality land ranged from an average of €7,750 in Monaghan and €6,000 in Cavan.
Elsewhere across the country, the survey found the most expensive land in the country is in Waterford with good quality land on less than 50 acres fetching an average of €20,000 per acre. The land with the lowest price is poor quality land in Mayo where the average price for poor quality land on holdings over 100 acres is €2,733 per acre. Teagasc is also warning that the impact of the adverse weather on agricultural output, production costs and farm incomes, is a concern and presents an area of uncertainty for the current production year.
